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STARS & STRIPES
HEARTLAND INVESTMENT COMPANIES
DECEMBER 2019
DARINGARMAN.COM 319-350-5378
AND WHY I WOULDN’T HAVE IT ANY OTHER WAY MY FAMILY’S ‘BORING’ CHRISTMAS When people ask why I’m so passionate about Iowa real estate, I like to give them a simple answer: Boring is best. People use the word “boring” as an insult, but, to me, it means something different when it comes to investing. When I say Iowa real estate is boring, I’m saying it’s safe, conservative, and smart. It’s a wise move in a turbulent world. I feel the same way about my family’s Christmas celebrations. When friends and neighbors ask what we’re doing for the holidays I always joke that our plans are “boring,” but really, I love our intimate, low-key Christmas traditions. For the last 30 years, my wife, our kids, and I have celebrated Christmas in the same predictable way, and I wouldn’t change a thing. Our ritual starts a few weeks before Christmas when Gina and I head to a local tree lot to pick out a real Christmas tree. We bring the tree home to decorate it, and the whole house smells like pine. A few days in advance, we start getting things ready for the Christmas meal. It’s the biggest event of the holiday for us, and a lot of preparation is involved. We bake a ham and a turkey and make sides like baked beans and fresh bread. Then, on Christmas Eve, the kids arrive, and we all head to church for the Christmas Eve service. Sometimes they bring a boyfriend or girlfriend into the mix, but other than that, reuniting is the same as always. The next morning, our house feels abuzz with excitement and cheer as we put the last of the food in the oven and all gather around the tree to open presents. The biggest difference between now and when the kids were tiny is that Gina and I don’t have to be up into the early morning hours sneaking presents from “Santa” under the tree and putting together toys after they’ve gone to bed! When it’s time to eat, Gina brings out the good china, and we set everyone places in the formal dining room. It’s one of the few times of the year when we don’t eat in the kitchen, and that alone makes it feel like a real occasion! In my book, the best feeling in the world is sitting down to a lavish, home-cooked meal surrounded by the people I love most on Christmas.
“IN MY BOOK, THE BEST FEELING IN THE WORLD IS SITTING DOWN TO A LAVISH, HOME- COOKED MEAL SURROUNDED BY THE PEOPLE I LOVE MOST ON CHRISTMAS.”
So, why would I risk losing that peaceful, happy Christmas by
choosing to travel or host a big party instead? I wouldn’t, for the same reason I wouldn’t invest in real estate in a volatile market: There’s too much risk and not enough guaranteed return. Of course, there’s no “wrong” way to celebrate Christmas — but I have to say, I really, really love the Iowa way. No matter what your holiday plans are, I hope you enjoy every minute. From my family to yours, Merry Christmas and Happy New Year! –Darin Garman
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THERE’S NO EXPIRATION DATE ON ENTREPRENEURSHIP
THE JOYS OF STARTING A BUSINESS AFTER YOU ‘RETIRE’
As a nation, America is getting older. By 2030, 20% of Americans will be 65 or older. With people living longer than ever before and the baby boomers approaching retirement age en masse, older adults will continue to have a massive impact on the American economy at large. Normally, we think of seniors as people who cash in on the hard work they’ve already accomplished. Many young people even worry Social Security will be wiped out by the time they reach retirement age. But who’s to say older adults can’t contribute to the economy? If you’ve ever tried to change jobs late in your career or pick up some part- time work after retirement, you know it’s hard to be hired as a senior. Quartz recently called seniors “the economy’s most underused natural resource.” Until more employers understand the value and potential of older workers, entrepreneurship remains the most viable avenue for seniors wanting to work after their primary career has ended. There are a number of reasons why seniors find creating their own business to be rewarding and why they tend to succeed when they do. Unlike younger people, who often become business owners in an attempt to make a fortune, older entrepreneurs can be content with small, sustainable micro-businesses. They also approach their businesses with a wealth of experience that can’t be purchased. As a result, 70% of ventures founded by older entrepreneurs are still open five years later, more than double the rate of the general population.
With so much potential to be found in senior-run businesses, it’s no surprise that organizations are rushing to empower older adults with the tools they need to succeed. Senior Planet, a coworking space for seniors with outposts nationwide, teaches classes on skills like website creation in a space that makes older learners feel welcome and comfortable. On top of being an important economic driver, entrepreneurship can be a wonderful way for seniors to generate meaning and value in their lives. It’s never too late to start the business of your dreams.
HAPPENINGS AT HEARTLAND
CLARK STREET APARTMENTS GOES TO AN IDEAL INVESTOR
Over his many years in business, Darin has found himself taking on the role of matchmaker. He maintains relationships with property owners
As icing on the cake, the investment group had the perfect amount of capital available and was able to lock in low-interest terms for financing the property. The deal closed in mid-October and should turn a profit for the investment group for years to come, just as it did for its past owner. If you’d like to take part in one of these sweetheart deals in the future, you can take action today by emailing Darin at darin.garman@gmail.com and asking to join our list of priority investors. You’ll be among the first to hear about opportunities like Clark Street and have a chance to reap their benefits!
and management companies across Iowa, checking in with them regularly regarding the status and availability of their properties. He’s also in day-by- day contact with investors looking for deals. When the timing is right, he can bring two of his contacts together to make a sale that benefits both sides. This October, Clark Street Apartments was one of those sales. It’s an attractive, multibuilding complex featuring 63 one- and two-bedroom units. When an investment group looking to expand its eastern Iowa holdings with an additional multifamily property checked in with Darin, it came immediately to mind because of its size and location. “I had a very good relationship with the owner of the Clark Street Apartments, and I knew that he might consider selling them, even though these apartments had been a solid and steady investment for him over the years,” Darin says. “It turns out that the timing was perfect, not only for the owner but also for the investment group, to make the purchase.”
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SUDOKU
I WA LIFE
A VERY IOWA CHRISTMAS
5 WACKY CHRISTMAS TRADITIONS IOWANS LOVE
Just as every family has its unique Christmas traditions, every state has its own specific quirks and trends centered on the holidays — and Iowa is no exception! In the spirit of celebrating what makes the Hawkeye State unique, we’ve rounded up five oddball holiday rituals that perhaps only an Iowan could love. CORN COOKIES According to Good Housekeeping, corn cookies are Iowa’s most delicious cookies, as well as an ideal representation of the state’s agricultural leanings. Popularized by New York-based dessert chain Milk Bar, this spin on the classic sugar cookie is made with corn flour and freeze-dried corn powder and bakes to a beautiful butter yellow. ‘CHRISTMAS IN IOWA’ This cheerful Christmas tune by pop group Mulberry Lane plays on Iowa radio stations throughout the holidays and sums up the magic of the season for many. Though the four sisters who make up Mulberry Lane hail from Nebraska, their mother was raised in Council Bluffs, Iowa, and their trips to the state inspired the song. CHRISTMAS EVE CHILI Once the first snowstorm hits, a big chunk of the American Midwest lives on chili until spring, and Iowa families often dig into the iconic dish on Christmas Eve. If you’re a first-timer, you can’t go wrong with blogger IowaGirlEats’ signature “Spicy, Smoky, Sweet” chili recipe (IowaGirlEats.com). It’s packed with ground beef, Bush’s Baked Beans, black beans, two kinds of onions, and enough spices to keep you toasty warm. THE CHRISTMAS PICKLE According to OnlyInYourState.com, this German tradition of hanging a pickle-shaped Christmas ornament on the tree has made its way to Iowa and is here to stay. Whoever is first to spot the pickle ornament after the tree has been decorated gets to open the first present! WINTER WALKS Even when it’s below freezing, Iowans aren’t afraid to brave the weather. Back in 2015, The Iowa Source reported that, for Fairfield residents, one beloved tradition is the winter walk. Contributor Tom Morgan recommended a trek through Lamson Woods, claiming it was just as beautiful in the snow! All that is to say Iowa isn’t quite like anywhere else on earth. If you’re ready to invest in this one-of-a-kind piece of the heartland, call Darin today at 319-350-5378!
APARTMENT SALES AND SUCCESS
8 UNITS—2 BDM UNITS UNDER CONTRACT IN DAYS!
98 UNITS – PURCHASED!
32 UNITS - FOR SALE!
CONTACT DARIN TODAY AT 319-350-5378!
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HEARTLAND INVESTMENT COMPANIES Darin Garman: Heartland’s Most Trusted Multi-Family Investment Advisor 2505 Silver Oak Trail Marion, IA 52302 DarinGarman.com 319-350-5378
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INSIDE
Page 1 My Family’s ‘Boring’ Christmas
Page 2 The Power of Senior Entrepreneurship
An Investor Match Made in Heaven
Page 3 A Very Iowa Christmas
Page 4 What Great Leaders Have in Common
THE SECRET TO BEING A GREAT LEADER DELEGATE TO ELEVATE
Poor delegation is the Achilles’ heel of most leaders, who often confuse being “involved” with being “essential.” To determine if you’re holding on to work you should delegate out, the Harvard Business Review (HBR) recommends asking this simple question: “If you had to take an unexpected week off work, would your initiatives and priorities advance in your absence?” If your answer is no or you aren’t sure, then you’re probably too involved. No one person should be the cog that keeps everything in motion, no matter their position in the company. Luckily, HBR has created an audit using the following six T’s to identify which tasks can be delegated. TINY: Small tasks that stack up can undermine the flow of your work. Registering for a conference, putting it on the calendar, and booking the flight are all small tasks someone else can handle. TEDIOUS: These tasks are straightforward but not the best use of your time. Someone else can input lists into spreadsheets or update key performance indicators for a presentation. TIME-CONSUMING: These important, complex tasks don’t require you to do the first 80% of the work. Identify what they are, pass them to someone else, and step in for the final 20% to give approval. TEACHABLE: Is there a task only you know how to do? If so, teach someone else to do it, and step in for the last quality check when it’s done.
TERRIBLE AT: It’s okay to be bad at some things. Great leaders know when to pass tasks off to someone who is more skilled than they are. The task will get done faster and at a much higher quality. TIME-SENSITIVE: These tasks need to get done right now but are competing with tasks of a higher priority. Just because it has to get done immediately doesn’t mean you have to be the one to do it. Sure, some tasks only you can accomplish, but these are extremely rare. As the Virgin Group founder Richard Branson warns, needlessly resisting delegation is the path to disaster. “You need to learn to delegate so that you can focus on the big picture,” Branson says. “It’s vital to the success of your business that you learn to hand off those things that you aren’t able to do well.”
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